2,308 Shares in Western Digital Corporation $WDC Purchased by denkapparat Operations GmbH

denkapparat Operations GmbH bought a new position in shares of Western Digital Corporation (NASDAQ:WDC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,308 shares of the data storage provider’s stock, valued at approximately $277,000.

Several other large investors have also recently modified their holdings of the business. SYM FINANCIAL Corp bought a new position in shares of Western Digital in the second quarter worth $225,000. Mirae Asset Global Investments Co. Ltd. grew its position in Western Digital by 12.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,317 shares of the data storage provider’s stock worth $6,281,000 after buying an additional 5,731 shares in the last quarter. LBP AM SA bought a new position in Western Digital in the 3rd quarter worth about $641,000. Nordea Investment Management AB raised its holdings in shares of Western Digital by 9.6% in the 2nd quarter. Nordea Investment Management AB now owns 30,434 shares of the data storage provider’s stock valued at $1,938,000 after acquiring an additional 2,656 shares in the last quarter. Finally, Moloney Securities Asset Management LLC purchased a new stake in shares of Western Digital in the 3rd quarter valued at about $636,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In related news, Director Matthew E. Massengill sold 36,926 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $260.43, for a total transaction of $9,616,638.18. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kimberly Alexy sold 1,768 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $154.00, for a total value of $272,272.00. Following the transaction, the director directly owned 3,585 shares of the company’s stock, valued at $552,090. The trade was a 33.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 70,522 shares of company stock worth $17,661,708 over the last ninety days. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $325.00 price objective on shares of Western Digital in a research report on Monday, February 9th. Wall Street Zen upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Susquehanna reiterated a “neutral” rating and issued a $285.00 target price on shares of Western Digital in a research report on Friday, February 6th. Citigroup increased their target price on Western Digital to $325.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, Robert W. Baird set a $310.00 price target on Western Digital in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $265.58.

Western Digital Stock Down 0.9%

Shares of NASDAQ:WDC opened at $281.58 on Tuesday. The stock has a market capitalization of $95.47 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 0.65 and a beta of 1.79. The stock’s 50-day moving average price is $219.16 and its 200-day moving average price is $153.62. The company has a current ratio of 1.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. Western Digital Corporation has a 12-month low of $28.83 and a 12-month high of $307.50.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.20. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the prior year, the business posted $1.77 EPS. Western Digital’s quarterly revenue was up 25.2% compared to the same quarter last year. On average, equities analysts anticipate that Western Digital Corporation will post 4.89 earnings per share for the current year.

Western Digital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Thursday, March 5th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Thursday, March 5th. Western Digital’s dividend payout ratio is currently 5.02%.

About Western Digital

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.